|
Getting your Trinity Audio player ready...
|
Key Takeaways:
- An Ethereum ICO-era wallet moved 1 ETH after nearly 10 years, unlocking 787,000% gains.
- Other Genesis wallets have also reactivated recently, coinciding with ETH’s $2,500 price consolidation.
- Strong ETF inflows contrast with rising short positions, creating the potential for a short squeeze or profit-taking dip.
A dormant Ethereum whale from the ICO era has re-emerged, moving 1 ETH for the first time in nearly 10 years. With Ethereum (ETH) hovering around the $2,500 mark, the crypto community is speculating whether this could foreshadow a major profit-taking event.
Ethereum Genesis Wallet Stirs After 10 Years
According to Etherscan data, a wallet that received 1,000 ETH during Ethereum’s Genesis event in 2015 initiated a transaction involving just 1 ETH — likely a test. The wallet originally invested just $310, valuing each ETH at $0.31.
Today, that ETH stash is worth around $2.5 million, reflecting a jaw-dropping 787,000% return, or 7,870x the initial investment. The move adds to a growing list of dormant Ethereum addresses becoming active amid current price consolidation.
ETH Whale Activity Intensifies Amid $2,500 Price Stall
This awakening follows another dormant whale wallet that became active in mid-June. That address received 2,000 ETH during Ethereum’s ICO and had remained untouched until recently. With ETH trading in a narrow range near $2,500, these moves are reigniting discussions of whether long-term holders are preparing to cash out.
Adding to the speculation is a recent $10 million ETH purchase by another whale, showing that market sentiment among large holders is currently mixed — with both accumulation and possible distribution happening simultaneously.
Shorts Build as Ethereum ETFs See Inflows
Despite the uncertainty, Ethereum posted a 35% gain in Q2 2025. This came on the back of strong institutional interest via spot Ethereum ETFs, which recorded $283 million in inflows last week, led by BlackRock’s ETHA. This marks the seventh consecutive week of positive ETF inflows.
Also Read: Ethereum Price Eyes Breakout as Whales Accumulate $10M in ETH
At the same time, on-chain data indicates a surge in short positions, which could lead to a potential short squeeze if ETH rallies. Still, the reawakening of these Genesis wallets adds a layer of caution, especially as ETH hovers at a psychologically significant price zone.
With early investors now sitting on multi-million dollar profits, the risk of whale-driven sell-offs remains a real possibility. However, institutional buying and ETF flows may help absorb selling pressure. Traders are now watching on-chain behavior closely to anticipate the next move.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
